A whole lot of UK shares have been hammered in current weeks as world inventory markets have plummeted. Based on my knowledge supplier, over 100 FTSE 350 shares are presently buying and selling 30% or extra under their 52-week highs.

Right here, I’m going to focus on 10 UK shares which can be sitting a whopping 50% or extra under their 52-week highs in the mean time. May there be some shopping for alternatives to think about right here?

10 shares which were smashed

Within the desk under, I’ve highlighted the ten shares from the FTSE 350 index which have fallen the furthest from their 52-week highs. It’s an attention-grabbing mixture of shares – there’s a mining firm, a housebuilder, a expertise firm, a financial institution, and way more.

Now, there are just a few shares on that listing that I’ll be steering away from. Automotive enterprise Aston Martin Lagonda International Holdings is one instance. It’s an unprofitable firm that has a historical past of disappointing traders. Its shares have been locked in a nasty downtrend for a very long time.

However there are just a few names that look attention-grabbing to me and that I consider might be value contemplating (for the long run) at present ranges. One is JD Sports activities Style (LSE: JD.). It sells athletic footwear and attire and operates globally at the moment.

Value a more in-depth look?

JD Sports activities Style shares look actually low cost proper now. With the consensus earnings per share (EPS) forecast for the 12 months ending 31 January 2026 sitting at 12.2p, the forward-looking price-to-earnings (P/E) ratio is barely 5.2 on the present share price of 64p – that’s a low valuation.

In fact, that EPS forecast is prone to be too excessive. Realistically, JD’s enterprise goes to take successful from tariffs because it now has a number of US publicity (it would probably face larger wholesale costs from retailers like Nike).

It might additionally take successful from an financial slowdown. In a recession, customers have a tendency to carry off on shopping for discretionary objects like trainers.

However even when we have been to slash the EPS forecast by 50% to six.1p, the inventory nonetheless appears to be like low cost! That might take the P/E ratio to 10.4, which isn’t a excessive valuation for a corporation with loads of long-term potential in a world the place persons are exercising extra and dressing extra casually.

Now, I’ll level out that purchasing at the moment is dangerous. Whereas the shares have fallen a good distance in current months, they may have additional to fall.

Tomorrow, the corporate is ready to offer an organization replace by which it would present some steerage and an replace on its medium-term plan. This might result in share price volatility — the inventory might rise however might additionally fall.

Taking a five-year view, nevertheless, I feel the inventory has potential. In spite of everything, trainers aren’t prone to exit of style any time quickly.